Analysis Crypto by Thebittimes.Com

A sanctioned Russian banker sold $19m worth of shares in Copper, a crypto custodian linked to ex-U.K. Chancellor Philip Hammond. As reported by The Guardian, Russian-sanctioned banker Mikhail Klyukin has sold over £15 million (around $19 million) worth of shares in Copper Technologies, a cryptocurrency custodian that named former U.K. Chancellor Philip Hammond as its chair in early 2023. According to the report, the transaction was orchestrated by the London-headquartered firm to address concerns after Mikhail Klyukin — who owns over 2% of the company — was placed on the U.S. sanctions list in March 2022. As of press time, Copper has made no public statements on the matter. In a commentary to The Guardian, a spokesperson for Copper said the firm “had complied with applicable sanctions law at all times, based on external legal advice.” You might also like: EU sanctions Russians from owning crypto businesses Acting as an intermediary, Copper is understood to h...

US and Iran are among the most trending topics of discussion of late. On one hand, the two nations are set to face each other in the FIFA World Cup tomorrow. On the other, the latter has demanded the former team be “kicked out” of the tournament owing to the flag controversy. Well, even in the crypto space, a development pertaining to the said nations has shaped up. Per an Enforcement Release by the US Treasury Department, crypto exchange Kraken has agreed to pay over $362,000 to settle claims that it violated sanctions against Iran. A statement highlighted, “Kraken, a Delaware-incorporated virtual currency exchange with operations in the United States and elsewhere, has agreed to pay $362,158.70 to settle its potential civil liability for apparent violations of the Iran ian Transactions and Sanctions Regulations.” The release further outlined, “As part of its settlement with OFAC, Kraken also has agreed to invest an additional $100,000 in cert...